Talk about “Dear John” letters! In the June issue of Royaltie$ magazine, Oliver Herzfeld (of Beanstalk) and Richard Bergovoy (of the Licensing Law Blog) sure know how to grab your attention, if you license trademarks or just love someone who does:
An envelope arrives from bankruptcy court. You open it and realize with shock that one of your trademark licensees has filed a bankruptcy petition and listed you as a creditor. Over the past two years, this has become an increasingly common occurance.
It’s going to be all right, though!
But from a trademark licensor’s point of view, a licensee entering bankruptcy is not always the disaster it might appear to be. This two-part article—the next article will be in the August issue—will provide an overview of the main issues faced and decisions to be made by a trademark licensor whose licensee has filed for bankruptcy.
They tried to make me a bankruptcy lawyer once. Don’t get me started! But this is something I can glom. Onto.
You can download the first part of Handling Trademark Licensees in Bankruptcy here (permission obtained, of course). For the second part, you’ll have to wait until August like everyone else.